Overview
- Solana is trading around $88–$90 after a roughly 10% weekly gain, with a Bollinger Bands compression signaling a potential near-term move and $95 identified as the key resistance zone.
- Spot SOL ETFs took in $3.92 million on Thursday and show a fifth straight week of net inflows, with weekly additions totaling about $3.10 million, according to SoSoValue.
- Derivatives signals turned more constructive as funding flipped positive to 0.0079% and the long-to-short ratio rose to about 1.07, the highest in over a month.
- Structurally, SOL remains weaker year-to-date with a decline of more than 30%, a prior 21-week negative funding streak, and open interest down about 75% from a $7.58 billion peak to roughly $1.9 billion.
- On-chain flows highlight selling pressure with daily exchange deposits up about 800% since Feb. 10 to roughly 2.2 million SOL, while supports near $82–$79 (and $75) guard against a measured downside target around $65 if they fail.